Published on 10/4/2023 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $620,000 buffered index-linked notes linked to S&P 500
By Angela McDaniels
Tacoma, Wash., Oct. 4 – GS Finance Corp. priced $620,000 of 0% buffered index-linked notes due Sept. 28, 2027 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par plus 116% of the index return. If the index declines by up to 15%, the payout will be par. Otherwise, investors will lose 1% for every 1% that the index declines beyond 15%.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the underwriter.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Buffered index-linked notes
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Underlying index: | S&P 500 index
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Amount: | $620,000
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Maturity: | Sept. 28, 2027
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index return is positive, par plus 116% of index return; if index declines by up to 15%, par; otherwise, 1% loss for every 1% that index declines beyond 15%
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Initial level: | 3,693.23
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Buffer level: | 85% of initial level
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Pricing date: | Sept. 23, 2022
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Settlement date: | Sept. 28, 2022
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Underwriter: | Goldman Sachs & Co. LLC
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Fees: | 1.11%
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Cusip: | 40057NC88
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